1. People's Republic of China Stocks

  2. •

    Utilities

  3. •

    Regulated Electric
Top Energy Company Ltd.Shanxi

Top Energy Company Ltd.Shanxi

600780.SS
Top Energy Company Ltd.ShanxiCN flagShanghai Stock Exchange
6.09
CNY
-0.03
- -
6.98BMarket Cap
Top Energy Company Ltd.Shanxi
600780.SS
(Shanghai Stock Exchange)

Recent

price

6.09

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.96
4.76
5.28
5.59
5.58
4.95
4.26
4.45
5.26
5.77
6.06
6.83
9.7
9.5
9.45
9.82
7.5
Revenue per Share
0.2
0.32
0.32
0.33
0.49
0.32
0.09
0.07
0.2
0.24
0.26
0.16
0.75
0.59
0.45
0.57
0.42
Basic EPS, GAAP
0.48
0.01
0.05
0.2
0.38
-0.2
-0.3
-0.26
-0.01
0.29
0.34
0.3
0.64
0.46
0.6
0.38
-0.77
Free Cash Flow per Basic Share
0.08
0.29
0.22
0.23
0.24
0.28
0.14
0.23
0.19
0.15
0.13
0.13
0.03
0.01
0.19
0.01
0.01
Dividend per Share
1.45
1.81
2.02
2.23
2.6
2.77
2.86
2.94
3.13
3.37
3.54
3.59
4.3
4.87
5.08
5.55
5.7
Book Value per Share
2.63
2.81
3.02
3.27
3.71
4.06
3.93
3.96
4.2
4.55
4.78
4.88
5.63
6.25
6.55
7.15
7.32
Tangible Book Value per Share
1,147
1,146
1,147
1,146
1,147
1,147
1,146
1,146
1,146
1,147
1,146
1,147
1,147
1,147
1,146
1,147
1,146
Basic Weighted Avg Shares
4,544
5,462
6,059
6,414
6,403
5,673
4,885
5,097
6,027
6,615
6,942
7,831
11,118
10,887
10,829
11,264
8,601
Sales/Revenue/Turnover
9.26
10.25
10.61
12.05
15.03
12.57
6.12
4.82
6.29
6.72
5.83
0.88
6.9
5.33
4.27
6.02
5.97
Operating Margin (%)
570
558
566
644
674
722
704
675
671
670
698
706
695
733
747
711
- -
Depreciation Expense
233
370
371
383
565
370
102
82
224
280
300
186
855
680
513
648
479
Net Income, GAAP
30.47
27.62
28.33
29.55
23.73
27.68
35.67
38.02
26.57
27.92
25.89
37.4
18
19.73
24.62
23.15
23.9
Effective Tax Rate (%)
5.13
6.78
6.12
5.98
8.82
6.52
2.09
1.61
3.72
4.23
4.32
2.38
7.69
6.24
4.73
5.75
5.57
Profit Margin (%)
-476
-604
-1,320
-1,182
-881
95
2,251
531
-639
138
321
43
484
1,114
1,312
1,522
1,765
Working Capital
85
55
876
292
444
1,517
4,513
3,560
2,849
298
279
125
138
347
125
719
857
LT Debt
3,077
3,332
3,588
3,904
4,408
4,836
4,690
4,798
5,078
5,355
5,619
5,718
6,589
7,314
7,655
8,340
8,531
Total Equity
9.45
10.05
9.08
9.92
13.79
8.42
2.4
1.65
3.07
4.24
4.83
0.69
9.14
6.04
4.28
5.86
4.31
Return on Invested Capital (%)
11.63
16.53
12.36
11.96
17.03
10.43
3.3
2.02
3.84
5.62
7.5
4.73
17.31
11.97
8.52
9.73
7.09
Return on Capital (%)
15.28
19.84
16.89
15.72
20.39
12
3.16
2.46
6.44
7.52
7.58
4.56
18.89
12.92
8.99
10.64
7.66
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
256
198
LT Borrowings
- -
466
604
LT Finance Leases
- -
253
253
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
1,147
1,147
Market Capitalization
6,511
6,511
8,037

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
4,161
4,192
Cash, Cash Equivalents & STI
- -
2,820
2,945
Accounts Receivable, Net
- -
926
862
Inventories
- -
134
98
Total Current Liabilities
- -
2,639
2,428
Payables & Accruals
- -
- -
- -
ST Debt
- -
256
198
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.71%
8.32%
8.95%
Free Cash Flow
-314.38%
13.43%
-36.08%
Net Income, GAAP
41.64%
60.54%
26.43%
Sales/Revenue/Turnover
7.96%
11.24%
4.02%
Total Cash Common Dividend
90.32%
188.67%
-95%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,848
2,415
2,599
2,967
10,829
2025
3,117
2,444
- -
3,079
11,264
2026
3,077
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
- -
- -
- -
0.45
2025
0.15
- -
- -
- -
0.57
2026
0.15
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.19
2025
- -
- -
- -
- -
0.01
2026
- -
- -
- -
- -
- -
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Business
Top Energy Company Ltd Shanxi (600780.SS) principally engages in the power business in China, operating through three main segments including thermal power generation, grid distribution, and others encompassing heating services; its core offerings comprise thermal power generation from coal-fired plants, power transmission and distribution via extensive grid networks, centralized heating supply, and technical services for wind and solar power generation along with leasing of photovoltaic equipment and components. The company, founded in 1992 and headquartered at No. 272 Changzhi Road, Taiyuan, Shanxi province, primarily serves residential and commercial customers in the domestic market with approximately 4,300 employees and focuses on the utilities sector targeting regional energy needs in Shanxi. Recent developments include plans to publicly issue corporate bonds not exceeding RMB 1 billion to professional investors for funding purposes, administrative approvals for two new projects, investments totaling RMB 1.4 billion in wind power initiatives, and the release of its 2025 semi-annual report alongside subsidiary deregistrations, reflecting strategic expansions into renewables and sustained operational reporting amid a revenue base of around CNY 11.15 billion (TTM).